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13 February 2009

LCH.Clearnet to launch Eurozone clearing of Credit Default Swaps


LCH.Clearnet plans to launch clearing services for Credit Default Swaps in the Eurozone by December 2009, subject to regulatory approval.

LCH.Clearnet plans to launch clearing services for Credit Default Swaps (CDS) in the Eurozone by December 2009, subject to regulatory approval. The service will be managed by Paris-based LCH.Clearnet SA, which is a Eurozone bank and regulated by the Banque de France.

 

The decision to launch a Eurozone CDS clearing offering is in response to both regulator and market demand.

 

Christophe Hémon, Chief Executive, LCH.Clearnet SA said: “We look forward to continuing to work with the European market to deliver innovative clearing solutions. Clearing is a highly effective means of reducing counterparty risk in any market and there is a real appetite within the Eurozone for a CDS clearing service.”

 

Press release

See also the clarification issued on 18 February.

 



© LCH.Clearnet


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